O-LevelEconomicsThe allocation of resources2281/11 · May/June 2012 · Q91 Mark
In 2010, a major oil leak from an oil rig affected many people living around the Gulf of Mexico. What type of market failure did they experience?
Amonopoly exploitation
Bnegative externality
Cprice discrimination
Drising tax burden
✓ Correct answer
B: negative externality
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